by Greg Guenthner, Daily Reckoning.com:
Gold has a huge challenge ahead of it in the coming weeks.
If the yellow metal can break above a key price barrier, it has the opportunity to regain some of its mojo lost in last year’s horrific selloff…
Here are the facts:
Gold has greatly underperformed the broad market since late 2012. Yeah, I know that’s old news. But so far, 2014 has been completely different.
Commodities are streaking across the board. I told you recently that someone “flipped the switch” this year, triggering breakout after breakout. Coffee and natural gas are just two examples that zoomed right out of the gate this year. And taking a bigger picture look shows the S&P GSCI Commodity Index testing a major breakout zone after a huge 3-year coil.
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